The Territory Labor Government has given the green light to Vista Gold Australia to recommence mining operations of the Mount Todd mine.
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Located 55 kilometres northwest of Katherine, the Mount Todd Mine Project is set to produce semi pure gold bars.
The mine ceased operating in 2000 and has been in care and maintenance since 2006 when Vista acquired the mineral titles.
"This is big news for the Territory, with the Mount Todd Project creating around 450 jobs during construction and 350 jobs during peak production," Minister for Mining and Industry, Nicole Manison said.
Vista Gold's Mining Management Plan (MMP) has been assessed by the Territory Government and meets the requirements of the Mining Management Act 2001, is consistent with all environmental requirements and addresses previous recommendations from the NT Environmental Protection Authority.
The Mount Todd mine Project also holds an Aboriginal Areas Protection Authority (AAPA) Certificate.
"We believe that the approval of the MMP distinguishes Mount Todd as one of the most attractive, partner-ready development projects in the world and places it at the top of a unique class of gold projects," President and Chief Executive Officer of Vista, Frederick H. Earnest said.
The Mount Todd Mine Project is now the fifth significant mine approved in the last 12 months, with the other approvals being:
- Core Lithium, Finniss Project
- Nathan River Resources, Nathan River Project
- McArthur River Mine ,Overburden Management Project; and
- KGL, Jervois Mining project
The approved MMP is publicly available on the NT Government website.
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